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MEMORIAL CREDIT UNION

Dec, 31, 2023 — MEMORIAL CREDIT UNION is a federally insured state chartered credit union headquartered in CHATTANOOGA, TN with 1 branch location and about $8.05 million in total assets. Opened 65 years ago in 1959, MEMORIAL CREDIT UNION has about 1,351 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MEMORIAL CREDIT UNION
Address:
(Main Office)
6800 Longview Rd
CHATTANOOGA, TN 37421
Phone:(423) 855-1770
Fax:(423) 855-0963
Website:https://www.memorialcreditunion.com
Branches:1 branch locations
Members:1,351
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:63802
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1959
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$8,051,558
CEO/Manager:Jennifer Ferris
Chairperson:Terry Taggart

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 444,580
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 547
 Unsecured Loans 543,980
 Other Loans 4,474,492
 TOTAL LOANS 5,019,019
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -20,316
 Land And Building 370,866
 Other Fixed Assets 22,366
 NCUSIF Deposit 70,747
 All Other Assets 0
  TOTAL ASSETS 8,051,558
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 300,285
 Accounts Payable & Other Liabilities 15,255
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 615,461
 Regular shares 5,880,386
 All Other Shares & Deposits 228,150
  TOTAL SHARES & DEPOSITS 6,723,997
  TOTAL LIABILITIES 7,039,537
 Regular Reserve 0
 Other Reserves 598,196
 Undivided Earnings 413,825
  TOTAL EQUITY 1,012,021
  TOTAL LIABILITIES, SHARES, & EQUITY 8,051,558
INCOME & EXPENSE  
 Loan Income 252,156
 Investment Income 44,819
 Other Income 50,944
 Total Employee Compensation & Benefits 249,760
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 181,937
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -5,259
 Cost of Funds 12,008
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -55,808
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